Finoa, the regulated crypto asset custodian, today announces its partnership with Stakewise as an operator of their Ethereum liquid staking platform, which will see Finoa run validator nodes on the Ethereum mainnet and Gnosis Chain. The partnership marks a significant growth milestone for Finoa as it moves to provide support for the broader crypto ecosystem, running its own infrastructure to do so, and demonstrates its continued belief in the Ethereum community and ecosystem.
As part of this announcement, Finoa also confirms it has established a separate entity, Finoa Consensus Services GmbH, to support the new infrastructure. Led by Dr. Andreas Dittrich, the new subsidiary aims to make it simple for institutional investors to improve their capital efficiency and increase the yield on their investments through staking.
The news comes soon after data released by ByteTree showed that $13.1bn AuM in ETH single-asset ETPs is sitting dormant, earning no yield. Finoa’s move is indicative of the huge opportunity for investors who want to put measures in place to counter natural inflation on PoS networks, as well as annual fees paid to providers.
Commenting on the partnership, CEO Henrik Gebbing said: “Our partnership with Stakewise represents our commitment to fully support institutional liquid staking as a custodian, and we are pleased to be able to offer staking in the largest industry in the world. Liquid staking is becoming ever more important, and our investment in the Ethereum ecosystem and infrastructure demonstrates our ability to keep offering the most capital-efficient products to our institutional clients”.
Investors in crypto assets who have until now relied on price appreciation alone are able to participate in liquid staking on Stakewise using the Ethereum validators nodes provided by Finoa Consensus Services GmbH. Liquid Staking is offering the functionality to transfer and use staked assets, as well as increasing the capital efficiency of assets under management. “We strive to make crypto assets as productive as possible. This is why we are providing the infrastructure for institutions to get a yield from the ecosystem they have already committed to long-term,” added Andreas Dittrich, Managing Director, Finoa Consensus Services.
“For investors like family offices, venture capital funds, crypto hedge funds, corporates, and high net worth individuals that we see holding assets longer-term – it’s imperative that there continues to be a clear business case for investing. Staking rewards provide these investors with significant benefits that make investments work harder for them. At the same time, Stakewise keeps their assets liquid.” he continued.
By Finoa:
Finoa provides institutional access to the ever-growing crypto-asset ecosystem, with industry-leading asset coverage and day-one support for emerging blockchain protocols and in-demand projects. Founded in 2018 by Christopher May and Henrik Gebbing, the company offers institutional investors a full range of financial services including custody and staking. Finoa’s intuitive platform enables users to securely store and manage their assets regardless of their level of familiarity with crypto. As a regulated custodian, the company serves high-profile clients from around the world, including renowned venture capital firms, crypto hedge funds, corporates, and high net worth individuals.